business plan
profitpa started this topic @ 02:54 on 11/04/2004
hi
i am in real need of trying to finish my business plan but the financial part is hard for me to do. Can someone give me advice on how to get the initial numbers that go into the finances? I need to do startup cash flow, profit and loss, and balance sheet. My business is a women's clothing store with five thousand of my own money to start with
thanks
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RE: business plan
stephenjamesmurray | 11/04/2004 09:58 AM
Hi
The following link http://www.bankofscotland.co.uk/business/pdf/startup/templates/businessplantemplate.xls will give you a good starting point. It provides a template for doing your cashflow and I think it's quite straightforward to use if you arn't an accounting expert! Once you have entered your data you can change it as much as you want to suit your own needs. Eg. change your sales to reflect monthly trends etc. When I did my business plan I just did the cashflow and took it to a business advisor at my local enterprise company who transferred the data into their computer programe which then produced the profit and loss and balance sheet as well. You will also find other banks who offer some reasonable software to help you with your business plan. Royal Bank of Scotland being another good example - they provide a CD with the business plan software as well as a years free use of an accounting package for when you actually start your business which I believe you can still use even if you don't bank with them.
Wiht regards to how to calculate the figures that go into the cashflow etc there is no easy answer unfortunately. Some things will be obvious and others you will be able to use common sense to judge. In terms of sales figures it makes it slightly easier if you start off with what you think the average spend will be and how many sales per day you think is realistic. Also consider seasonal peaks such as christmas and promotional periods such as January sales. Things like insurance premiums you can phone up any insurance company to get an initial idea of how much your premiums will be each month.
Hope this is of some help or at least gives you a starting point!
good luck,
Stephen
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Stephen
http://www.urbandesignclothing.co.uk
RE: business plan
louis1st | 11/04/2004 11:01 AM
are you actually allowed to use some sponsored links in this forum???
RE: business plan
cybernation | 11/04/2004 01:24 PM
Regarding the sponsored links question by Louis1st, that's not done by the poster but it's some partnership between vibrantmedia.com & startups.co.uk
You & I just post into the forum and some keywords are bought which results in sponsored links.
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